Oil Exploration Exxon Mobil Signs Petroleum Agreement with Ghana Government
The company has acquired exploration and production rights for the Deepwater Cape Three Points block. Located off the coast of Ghana, the project is expected to commence later in 2018.
Texas/US – Exxon Mobil has recently signed a petroleum agreement with the Government of Ghana to acquire exploration and production rights for the Deepwater Cape Three Points block. The agreement is subject to parliamentary ratification.
Exploration activities, including acquisition of seismic data and analysis, are expected to commence later in 2018. The Deepwater Cape Three Points block, located 57 miles (92 km) off the coast of Ghana, measures approximately 366,000 acres (1,482 square km) in water depths ranging from 5,085 feet to 9,350 feet (1,550 m to 2,850 m).
Exxon Mobil will carry out the work program as operator, and holds 80 % interest. Ghana National Petroleum Corporation holds 15 % interest. Exxon Mobil will work with the government to identify a Ghanaian company to potentially hold up to 5 % interest.